Latest from Investor Lawyers Blog

Massachusetts Broker Accused of Defrauding Customers of $3M
James Kenneth Couture, an ex-LPL Financial registered representative, was arrested in July 2021 after turning down a plea deal related to criminal charges that accused him of stealing $3M from investors. Following his decision not to accept the deal, a grand jury added additional criminal counts to the charges of wire fraud

Deceased New York Broker Philip Incorvia May Have Defrauded Investors 
A retired couple living in Florida has filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against broker-dealer Henley & Co. over losses they suffered while working with Philip Robert Incorvia as their registered financial advisor. Incorvia, who died in August 2021, was a registered representative with the firm for

Popular With Retail Investors, Shell Companies That Raise Capital Through Own IPOs Can Be Risky  
The Financial Industry Regulatory Authority (FINRA) has started a thorough examination of the activities of brokerage firms in relation to special purpose acquisition companies (SPACs). These shell companies raise funds through their own IPOs and have up to two years to select and acquire

Denver, Colorado Financial Advisor Has 21 Disclosures on BrokerCheck 
If you suffered losses while working with Western International Securities registered investment advisor Peter Benedict Steege, our Denver, Colorado broker misconduct lawyers want to speak with you. Steege, who has been with this firm for 19 years, has 21 disclosures listed on BrokerCheck. Most of them are customer disputes. However, Steege

YES Strategy Investors Suffer Losses, Say Risks Were Misrepresented
Another Financial Industry Regulatory Authority (FINRA) arbitration claim has been filed against UBS Financial for losses sustained in its Yield Enhancement Strategy. The claimants contend that their financial advisors at the broker-dealer unsuitably recommended this iron condor strategy that was misrepresented to them as low risk. 
The investors say that

Alternative Asset Firm’s Former CEO Wants Money Despite Facing Criminal Fraud Charges 
David Gentile, the founder of GPB Capital Holdings LLC, is requesting that a district court grant him supervised mediation as he attempts to secure millions of dollars that he claims the alternative asset firm owes him as owner and general partner. 
Gentile, ex-managing partner Jeffrey Lash, and Ascendant

Former Merrill Lynch Financial Advisor Has Been Named in Nine Customer Disputes
Peter Edward Eckerline, a longtime Merrill Lynch broker who spent his entire 37 years industry with the firm until August 2021, has been named in nine customer disputes by claimants. These claimants are seeking to recover damages for losses they sustained. 
Eckerline, who worked out of Wayzata, Minnesota

Ex-Raymond James Broker Sara Komischke Unsuitably Recommended Off-Shore Investment 
A Maine investor has filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against brokerage firm Raymond James Financial Services, Inc. over his Northstar Financial Services (Bermuda) investment losses. 
The claimant contends that the off-shore investment was unsuitably recommended to him by Sarah Komischke, also known as Xiao Qin Komischke, while

Former Wisconsin Financial Advisor is Accused of Defrauding at Least 100 Advisory Clients
Michael Francis Shillin, who was barred by the Financial Industry Regulatory Authority (FINRA) and Wisconsin’s Officer of the Commissioner of Insurance (OCI) in January 2021, is now facing Securities and Exchange Commission (SEC) charges. 
The regulator is accusing the previously registered broker and investment advisor of defrauding

FINRA Arbitration Panels Award Damages To UBS YES Claimants
Two Financial Industry Regulatory Authority (FINRA) panels have ordered UBS Wealth Management (UBS) to pay investors over $1.1 million for losses they sustained from the firm’s Yield Enhancement Strategy (YES). 
This complex options trading strategy that promised investors stable, incremental returns has cost wealthy UBS customers significant losses. Many of them